The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.89%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.15%.
Stocks on Wednesday shook off early losses and posted moderate gains, with the S&P 500 and Dow Jones Industrials climbing to new all-time highs and the Nasdaq 100 climbing to a 1-1/2 week high. Stocks rallied Wednesday afternoon after the FOMC maintained its projections for 75 bp of interest rate cuts this year. The FOMC also raised its 2024 US GDP forecast, bolstering the outlook for an economic soft landing.
